MultiversX has come under formal trading review at Upbit after the South Korean exchange designated EGLD a trading-caution market on September 21, following a mainnet security incident that forced the network to stop progressing four days ago.
Upbit's official notice covers the EGLD/KRW, EGLD/BTC and EGLD/USDT pairs, invoking its policy for digital assets where an unresolved security incident "could have caused, or could potentially cause" user losses. Deposits and withdrawals, suspended since September 19, remain frozen; when transfers resume, withdrawals will reopen first, with deposit support requiring a separate announcement. The review window runs to the fourth week of October (October 19–23), after which Upbit will decide whether to lift the warning, extend the review, or end trading support entirely, per crypto.news.
What happened on mainnet
MultiversX first disclosed on September 19 that it was investigating a potential mainnet issue. A subsequent update confirmed that an actor had attempted to exploit a virtual-machine-level atomicity issue — a class of bug that breaks the assumption contract operations execute indivisibly. The attempt produced invalid state changes, and developers stopped network progression while engineers prepared a repair.
The fix is being tested on a shadow fork, which reproduces mainnet conditions without touching the live network; deployment, the team said, is subject to successful testing and coordination with validators, exchanges and infrastructure providers. No firm restart deadline has been given. Security tracker SlowMist separately recorded the incident as an attempted VM-level atomicity exploit involving invalid on-chain state changes, with no confirmed loss amount listed in its public database.
Exchanges restrict EGLD across the board
Upbit's caution designation is the strictest response so far, but not the only one. Bithumb suspended EGLD deposits and withdrawals on September 19 after block production stopped — three days after restoring the same services following a scheduled network upgrade. Kraken's status page placed EGLD trading pairs in cancel-only mode, letting users pull existing orders while blocking new trades, with deposits and withdrawals unavailable. Coinbase reported delayed EGLD sends and receives from September 19, with trading services unaffected.
MultiversX has advised users not to submit or rebroadcast transactions, and to avoid moving EGLD or ESDT tokens through exchange deposit and withdrawal routes or cross-chain bridges until the project issues an all-clear.
The case is a study in how a consensus-level incident cascades into market infrastructure: nothing was delisted, yet four major venues restricted the asset in different ways within 48 hours, and EGLD now sits in a formal review that could end in delisting if the network's recovery does not satisfy Upbit's criteria. The immediate question for users is operational — when transfers resume and whether withdrawals precede deposits — and the longer one is whether a VM atomicity flaw with no published loss figure still counts, under exchange risk policies, as an unresolved security incident.